Bank ZENIT Exercised Put Option on Issue 4 Bonds
Moscow, October 9, 2008
On October 8, 2008, OJSC Bank ZENIT exercised a put option on Issue 4 bonds (individual state registration issue number 40403255B, offer date February 20, 2007). As part of exercise of the put option OJSC Bank ZENIT purchased one million nine hundred eighty four thousand seven hundred and ninety one (1,984,791) bonds or 66.16% of the total loan amount, i.e., a large portion of the loan issue is still outstanding.
Mr.Kirill Kopelovich, head of ZENIT's Investment Department, said in his comments on execution of the put option, that "the successful exercise of the put option against the backdrop of unstable markets and the difficulties of western financial institutions is evidence that investors and market participants have high confidence in the Bank and the Banking group ZENIT."
A 5-year 3-bn ruble ZENIT bond loan 4 was offered on MICEX Stock Exchange on April 4, 2007. The auction set the coupon rate at 8.13% p.a. for coupon periods one and two. On March 24, 2008, OJSC Bank ZENIT set the interest rate for coupon 3 at 9.9% p.a. Coupon yield for coupon period 3 was paid on October 6, 2008, in the amount of RUR 148,920,000 (RUR 49.64 per bond).
Currently OJSC Bank ZENIT's ruble bond issues 2, 3, 4 and 5 are outstanding. Bond issues 2, 3 and 4 of OJSC Bank ZENIT were included in A, Level 1, Quotation List of MICEX Stock Exchange. ZENIT bond Issues 2, 3 , 4 and 5 were included in Bank of Russia's Lombard List on October 15, 2007. Also, holders of issues 2, 3 and 4 may borrow from the Bank of Russia using ZENIT bonds as collateral in REPO transactions on CJSC MICEX' Organised Government Securities Market.
OJSC Bank ZENIT is the arranger, underwriter and payment agent of its bond issues. See issuance documents of bond issue 3 at: www.zenit.ru.
Back to the news list
|
|
